Ann: Andromeda and Minotaur to Combine, page-316

@Pezz69, there will be a range of views, which is good. Remember, there aren't many explorers that successfully transitioned without delays and changes.

I fully understand why you contacted JM. If I were a large holder, I would've done so too. But that doesn't make it okay for him to tell you anything whatsoever that hasn't already been disclosed. So what else can JM say, except for repeating previous announcements, or refusing to speak with you.

I'm not judging you, or having a shot, just stating objectively the situation as I see it.

Success requires JM to be optimistic, passionate, driven, intelligent, and an expert. He appears to be all those things to varying degrees. But he's not Jesus, so he comes with downsides. One of his short comings, IMHO, is he appears to overplay the salesman strength. This can lead to people losing trust, unless everything is delivered on time to spec and budget. This is a problem, because as a junior explorer, they are bound to hit delays, roadblocks, and be forced to change plans accordingly.

I think for many, their disappointment with the delay isn't about time, its about trust. It doesn't help when LT holders are bombarded with negative, and highly personal messages from ghouls and shorters. These people are posting with one purpose, to rattle the LT holders. We've now reached the infighting stage. I've seen this with other stocks. When it reached a crescendo, they secured funding and BOAs, and the SP rocketed. This is why multibaggers are hard. It not only requires truckloads of research, it also requires mental strength. Because there will be disappointments, delays, cost over runs, dilutionary CRs, shifts in strategy, and so forth.

For ADN, there have been no fYI (Alcoa) type moments. In fact, everything they've done has been aimed at improving NPV. Now, they might have been able to secure a merger on better terms (I doubt it). But, looking at it from the perspective of likely NPV per share, well, that has increased.

The shifting strategy is perplexing. The first shift away from DSO made sense to me. Their mkt cap had jumped faster than expected, which unlocked new opportunities and expectations. Their execution was botched, and in hindsight, if they'd stuck with DSO, the SP wouldn't have ended up much lower than where it is now. However, if they'd stuck with DSO, then MEP would have likely remained a partner. Now they are talking about DSO again, which suggests the capex may be higher than anticipated and/or delays are inevitable. This is likely to shake many people's confidence, understandably. I've thought about this, and re-read the mining proposal (https://sarigbasis.pir.sa.gov.au/WebtopEw/ws/samref/sarig1/image/DDD/MP4963928.pdf). This document was clearly written by a professional group of hard-working experts. So, where there are delays, its not because they are unprofessional, lazy, or inept. The most likely cause, IMHO, is they are overstretched and overly optimistic. Again, clowns or frauds could never have written such a comprehensive mining proposal. So, I'd say chances are ADN wouldn't have shifted back to DSO without considering the options deeply. There are likely many moving parts that we cannot see, making the situation dynamic and complex. In summary, yes the shifting strategy is bemusing, but on re-reading their mining proposal, I've decided to trust that they know what they are doing. They won't kick a goal on every opportunity. But so long as they get coatings and ceramics over the line, any of the other opportunities (HPA, concrete, carbon capture, hydrogen storage, etc) will be a bonus for me.